The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1887-06-29
A TALK WITH GOULD
his Views Relative to the Recent Great Dig
turblncS in Wall Street.
he Thinks the Danger Now 0vsr-Beneh.
cial Effects OF the Interstate Law Upon
the HaiIroad systems of the Country.

NEW YORK, June 25-Tbe World prints
a long interview with Dir. Jay Gould,
from which the following is taken:
mir. Gould, to what do you attribute
the great disturbance in Wall street to-
Gay?" 81 do not know that / can tell the
exact cause. l have been so little in the
street thst l have paid no attention TO
things. The market was raided, for one
thing, and a scare was created. They had
Mr.. Field broke and me dead. But they
found out that Mr.. Field was not broke
and that wss not dead.
"Do you think the bottom has been
THAT is something it would be difficult
to say. believe that stocks are cheap.
bought some. i bought Missouri Pacific
Western Union and Manhattan"
''Do you regard the danger as over2"
"Ees; the worst has unquestionably
passed.
How do you think the street stood the
shock"
Admirably, I should say. There was
not a single bull house that failed. 1t
showed the strength OF the bears. There
was more of a capacity for taking stocks
than was looked for"
"Do you consider 1t good time to buy
stocks noWp
That is according to the way person
looF5 at II. My remarks that / regarded
ply as l can give"
iDo you care to state the extent of your
| purchases to day?"
"Well, am not in the market as a spec
ulator and sm not an extensive buyer OF
anything. L do not owe money and have a
little to spare to buy good things OCCASION
ally when l see them"
"What is the condition OF the country
from a business point of view?'
Good. know that ii is particularly
| true of the West. The earnings of our roads
| out there are big"
"The interstate commerce law has now
had good trial. What is the effect of it
en- the railroad system of the country"
II think it is beneficial. My instructions
were to carry out the law on our roads, and
We think We have profited by it,"
What defects are there in it that could
| be remediedT'
81 don't know as there are any. The
| commissioners are intelligent men, aad
they are interpreting the law so as to make
it produce the best results, think
"Has the political situation any bearing
on the railroad and business interests OF
| the country? Would the change back to a
! Republican administration be huriful?r
II cont think the charge would have
| any eilect," replied Mr.. Gould, after a
| moments reflection, THE present adj
ministration is a discreet one, and dou't
| believe any administration would interfere
with the prosperity of the country.
| What policy would produce the best
4 results for the country a. large"
| TO let il alone, was Mr.. Gould's quick
reply. THE country is able to work out
| its own prosperity. The Americans are
| great, noble and brave people, and all they
want is to be let alone, They don't want
interference from the President or Con-
gress, the State legislatures or Governors.
1t would be better if the legislatures met
| only once in five years. The people are
able TO take care Of Themselves and run
their own affairs. The flower OF other
lands have to serve from one to seven
| years in the armies. We have no great
standing armies, and our best men can
| prosecute industries that make the country
rich and the people contented. Our people
will always be prosperous IS long as they
can attend to their own affairs"
"Mr. Could have you ceased speculation
in Wall street wholly and for good2'
81 may buy stock as ] did to-day, when
think am acquiring property cheap, but
have absolutely stopped speculation. 1
Withdrew from Wall street, to remain out,
year ago last January. l shall never un-
der any circumstances be a Spectator
again"
"Do you slso contemplate retirement
from the active management OF your bust
ness interests
Eyes, as completely as possible. My
son has familisrized himself with the man
sgement OF the different properties With
| which l am connected, and ne can now at
tend TO them as well as I can. IL is re-
lief which l am grateful for and l shall
never return TO any of the hard work."
Now, Mr. Gould, what is the state of
| your health"
81 did rot get my customary run Off last
winter, and am taking things ss easily as
| possible this summer. ] have had an at
tack Of neuralgia, which l have now re-
covered from. That was caused as much
| as anything by Oyerwork. i had a slight
stomach trouble, little indigestion with
the rest, which was also brought on by
| overwoIk. 1 am feeling very well now,
and expect to pass very pleasant summer"